Can I cancel my GSA MAS Contract?
In order to cancel a GSA MAS Contract, a company must write a letter with thirty days notice to GSA stating that they are cancelling their contract. The actual cancellation is very simple. But, it is very important when cancelling a contract to make sure all compliance issues are closed out up to that date. This includes making sure the company still reports sales and pays the Industrial Funding Fee (IFF). If the company has subcontracts, it is important for them to notify the procurement officers of their effective cancellation of their contract. It is extremely important to continue to report and pay fee of what has already been done up to that date because the cancellation is only for the future, not for what has already been done.
Additionally, the GSA can cancel your contract if certain requirements are not met. One of these requirements is the minimum sales requirement of $25,000 within the first two years and $25,000 in each additional year. All companies must also report sales and pay the Industrial Funding Fee to GSA. Both the sales and fee are due thirty days after the quarter ends. Each company must also attend Contractor Assistance Visits (CAVs). Under CAVs, GSA’s Industrial Operations Analysts (IOA) visit the company site twice every five years. Every company must also maintain their registrations and certificates up to date. If all the requirements are maintained, there will be no risk of GSA cancelling a given contract.